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20121101
20121130
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about the u.s. economy. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> hello. welcome to today's "worldwide exchange". >> 40 unions in 23 countries. that's the strikes that are planned across europe today. so if you thought there couldn't be any coordination, there is coordination. >> how are we going to be affected? >> you know, air travel, surprisingly, they have had to have a lot of cancelling due to strikes. >> we're fully at our jobs. there's two hours of it today. let's remind you exactly what's coming up. we'll have updates from beijing throughout the program as the new generation takes the first step towards leadership. >> and we're in london. talk to the ceo of wpp, martin sorrel. >> we discuss japanese banks. >> and the latest on cisco from silicon valley as the network equipment maker warns of slowing growth this quarter and some falling demand in europe. >> more than 2,000 delegates have cast their votes for china's new central committee, marking the end of the week long communist party. the world will have to wait one more day
that sucked up the oxygen. hamas is a group that's recognized as a terrorist organization by the u.s. government, the israeli government and the european union, has increased shelling in areas of israel over recent weeks. they now have shelled tel aviv and 180 missiles went into southern israel. so israel for its own self-defense, its right of self-defense is organizing, rallying more reserve troops, getting ready for more permanent action. it can and should do what's necessary to protect its citizens, which means inflicting damage on hamas. >> heavy damage, deep damage. go as long as it takes. but john, given what you and ambassador williamson just said, where is the white house on this? the best we can find is not a public statement. the best we can find came out of a white house statement. i'll quote, israel has the right to self-defense in light of the rocket attacks. but that's not the president really standing up for israel. this was some white house spokesman echoed by the state department, john. that ain't the kind of support that i'm looking for. >> my information, very fres
than the rest of the world. the u.s. is starting to show good trends. in an area that capital spending might be flat or plus 2%, enterprise is starting to show some signs of coming back outside of europe. commercial marketplace, which is what i watch the most, is also doing okay. so i would assume government's going to continue to be tough, especially the u.s. federal government. public sector around the world, okay. in the u.s., not counting federal. good in asia-pacific. still challenging in europe. >> we're looking at challenges in the u.s., obviously. i want to get your take on what's going on with with taxes and what your expectations are. first off, you've got 87% of total cash held overseas. is that right? >> that is probably pretty accurate. probably in excess of $40 billion. >> what are the pans to repay trait? is it worth taking a tax hit to invest domestically, or it's too expensi expensive, so you leave that money overseas until you see a change in tax code? >> we're at a cross roads. we clearly want to put this money to use in a way that benefits our shareholders. if we be
, this is fascinating. the fiscal cliff issue is a reason for many markets to move in the u.s. it's also big reason in europe and as it overlays several months going back to june with dow jones industrial average, you can see that our market was impacted more by the election but both charts are highly correlated and it's the fact that we are talking potential solutions to our fiscal cliff. melissa lee, back to you. >> thank you very much, rick santelli. just a note here, we're waiting for intel to begin trading again. a delayed open because of news that ceo will be retiring in may. we're awaiting that opening trade. 9:45 eastern time is our latest indication. meantime, will we see a massive correction even if there is a fiscal cliff deal? that's what david shulman is saying. find out why the senior economist is making such a bearish call. brewing job creation. what the folks at sam adams are doing to get food and beverage entrepreneurs a lift. stay tuned. [ male announcer ] introducing the new dell xps 12. part of a whole new line of tablets from dell. it's changing the conversation. ♪ well, havi
. the obama administration saying that china's currency remains significantly undervalued, but the u.s. treasury department is now stopping short of labeling the world's second biggest economy a currency manipulator. the white house is expected now to send the congress a multi-billion-dollar request on the recovery from superstorm sandy. the storm caused an estimated $71 billion in damages in new york and new jersey, and some congressional aides saying the request for funding would likely be at least $11 billion. the move comes as canada gets close to its decision on whether to approve the transaction. the energy companies say discussions with the committee are still in progress, and of course they had to file approval because they have extensive operations in the u.s. gulf of mexico. >>> "the wall street journal" reporting that virtue is emerging as the frontrunner to buy knight capital. they would possibly sell off parts of that business. finally, we can't get away from the story of twinkies. the bakers union of hostess brands wants a bankruptcy judge to appoint a chapter 11 trustee
at the ex-have a dax, up 5%. ftse up nearly 4% in the last week on top of pretty good gains for the u.s. markets as you know between 3% and 4%, as well. so no surprise perhaps today that we're a little bit weaker on the back of those gains. 8:2 just about decliners outpacing advancers. this is how it translates. ftse 100 down half a percent. xetra dax up a quarter. ibex down about half of 1%. a number of things going on in politics as ever. we had regional elections in spain. yields you can see slightly higher, but still well below 6%. now, these regional elections fairly important because we know catalonia has been pushing on on independence. now, it looks less likely we'll get that referendum, but not because people in catalonia are any less eager on a separatist movement. just that they didn't vote for the main guy who is proposing it. they voted for competitor party which is makes it slightly harder in the short term for them possibly to get a referendum going. so eases the pressure in the short term but means there is still a longer term problem there. catalonia is one of those reg
'm going to start with you today because we see that stutter step opening in the u.s. stock market. some of that could be attributable, i guess, to the plunge in spanish ten-year yields when rumors got out that maybe spain was going to ask for a bailout from the ecb. while we obsess so much on the fiscal cliff, the markets are paying close attention to what's going on in europe, yes? >> oh, well, i don't disagree. nothing gets past you, bill. i think the fiscal cliff for lack of any tangible movement there is up and center. look at the chart bill is referring to. at one point, we were up eight basis points on the ten-year in spain. by the end of the session, down three. the following charts might put a better face on it. if to you open the chart up to about a month, you can see that rates for the most part were about a one-month high in spain. if you look at their safe harbor counterparts, the exact mirror image of lower rates. the rumor is, hey, if you build it, a bailout facility, they will come. spain may be on their way, but it's still only rumor at this point. >> steven, how much of
. it is all about the u.s. this week. the tone for the most part has been negative this morning as you can judge from the red behind me. yes the uk pmi data came in weak, points to the country potentially in contraction territory despite the better gdp figures. some concern about greece. investors seem to be standing on the sidelines until a lot of these issues are resolved or at least there's more clarity. this follows reports over the weekend that some of the ways in which spanish banks borrow at cheap rates may not have been legal. the ecb says it's exploring the issue. one of the companies weighing on the foot city, hsbc which has said it is provisioning $1.5 billion against the laundering charges. group profit slightly disappointed investors. shares down 1.4% as a result the there. but that's really it in terms of the major corporate news. ubs going through a bit of a shake up. the bond wall expresses more of the mood we're seeing on the eve of the u.s. elections here. it's a rotation out of the periphery into the core. the gilts are benefiting. spain, italy seeing yields a little hig
? >> i'm, today, tomorrow -- today here, tomorrow there -- i'm going to short more bonds, more u.s. government bonds. i'm going to buy more commodities, buy metals, base metals and precious metals. looks to me like the money printing is going to run amok now. and the spending is going to run amok now. again, larry, i'm not saying this is good for the world, it's not good for anybody. this is what's going to go on. i have to invest based on what's happening, not on what i would like. >> mr. rodgers, rick santelli here. what about europe? i don't disagree with your notion you want to sell treasuries. i do disagree treasuries were moving to the downside because of a barack win. most of the traders in chicago were definitely thinking mitt was going to win. they were buying puts on the treasuries. they were buying calls on the s&ps. my question to you is pure and simple. the world is lending us money at rates much too cheap. i wouldn't lend uncle sam my money for ten years for 170 basis points but the european issue continues to push more investors into treasuries. when do you think tha
to go follow the united states while it lobbies for a reconsideration of the u.s. stance. the delay could push back the start of basel iii by about six months. the law was mepts ant to be pha in by the start of 2013. >> archstone was not part of the zell asset, was it? >> i feel like zell was related to it. >> but he sold right at the top. so that was part of the problem. it wasn't just a total lack of due diligence. i mean, everything was valued hire when archstone was first sold, right? >> yes. but as i'm looking at this, no, sam zell i do not believe was involved. >> that was the equity office and -- >> and then blab stone. but blackstone even though they bought at the top figured out a way to then sell pieces of it very, very quickly. and they did very well. >> entrade is no longer accepting u.s. customers citing legal and regulatory pressures. that announcement coming hours after the u.s. commodities regulators sued the exchange's owner alleging that it allowed unauthorized trading by u.s. customers, u.s. customers must close their accounts and withdrawal all funds by the end o
softer condition and background in europe politically. and i think improving conditions here in the u.s. for the consumer and for manufacturing and for gdp in general. our general background is pretty positive. >> great points there. sandy, what about you? you say regardless of who wins the election, the fiscal cliff would be either downsized or deferred. what does that mean? >> well, i think downsizing is more likely. have you to factor in the hurricane as well because that's going to be a half a percentage point decline as well, coupled with, you need to get that fiscal cliff down to 1% or maybe 0.5%. i think the downsizing has to be pretty substantial. they're either going to have to defer it to the new congress and either a new administration or the existing one, but they've got to get it downsized pretty substantially pretty quickly. and it's going to require, because of that gridlock we're going to have again, a bipartisan concurrence. that's going to be the test in 2013. >> chris, what do you think? how do you want to invest with $1.5 billion under management, how are you allocat
thing that's changed a little bit is the u.s. has to take its tough medicine. tough medicine is we have to deal with issues like austerity and budgets and taxes. that's what europe has gone through the last three or four years. my guess is going forward this is the opportunity for europe to outshine the u.s. not that the u.s. will be a bad place to be, but incrementally, i think europe really looks good post-election. >> europe is going to outshine the u.s., huh? >> only because people are expecting such terrible things out of europe that when you expect terrible and you get, you know, so-so, that's an upside surprise any way you look at it. >> all right. we'll leave it there. gentlemen, thank you very much. we'll keep watching both those stories. let's get to john fort. he just spoke with the qualcomm ceo on the heels of their earnings report. let's find out what he has to say. john, over to you. >> maria, you already mentioned the headline numbers. i want to focus on guidance and a bit of color. that might change the way people are thinking about some elements of technology, and parti
is not struck by the end. year, the u.s. economy would head back into recession, contract by half a percent in 2013. president is scheduled to make remarks on the cliff at 1 p.m. time. speaker boehner will address us. can the president say anything to make this whole week look like a dream? >> that's a tough one. what our lalt friend mark haines used to talk about, we need a capitulation, we need the answer, no, are you kidding? there was a congressman on "squawk" this morning say, yes, don't worry about it. when i hear that i say, no, it's not going to happen. we have to have them worry, as worried as we are. i still see this kind of grover norquist run republican party which would rather not have a tax increase and take the tit titanic down in the name of the country. >> viewers will say, wasn't wednesday a woosh? what qualifies a woosh at this point? in terms of the signs we've seen, isn't that qualified as a woosh. >> you open down and rally between 12 and 1. you get the 10 to 1 ratio. i'm just quoting mark haines. if you saw 20 to 1, you would say, you need to buy it. i need to see hai
. they were some of the best actors out there. good news for europe, still good news for the international u.s. banks. they went up, too. jp morgan, goldman sachs. retail. we got terrific news on friday. initial returns from that black thursday which used to be black friday, tremendous. we found out that walmart was forecasting the biggest pre-holiday buying ever, with $1 billion a day in sales. they ought to know, they weren't alone. finally there's washington. we headed into the weekend with lots of talk. lots of talk about good feelings. good feelings over possible deal to avert the fiscal cliff. republicans seem to be breaking ranks with the hardliners. talk about maybe raising revenues if the democrats will be willing to do meaningful entitlement reform. that positive tone, the rising above, helped move up the futures right into the bell. who wanted to be short ahead of a weekend deal? what a difference a day makes. this morning we come in, what are they chattering about? greece. greece. can you believe greece? it's standing in the way of a european deal again. this small country with no
and save the u.s. economy from going down a dangerous road. it is wednesday, november 7th, the day after and a special early presentation of "squawk box" follows the late presentation that we had yesterday. but it starts right now. >>> good morning, everyone. welcome to "squawk box" here on cnbc. and yes, we know it's only 5:00 a.m. on the east coast, but you don't have to double check your clocks. on the morning after election day, we couldn't wait until 6:00 a.m. to get back on the air. the american public handing president obama four more years in the white house. meantime, the balance of power stays the same in the senate. this morning, we have two main items on the squawk agenda. after months of handicapping the race, we'll find out how the global markets react to the decision and ask how you need to position your portfolio. we have a number of people on hand to help us with that task, including mike santoli. he is our guest the next hour. chuck gabriel, his job is to try to connect the dots between washington and investors. we have jeremy seigel. also, vincent rinehart. we'll be jo
u.s. equity futures are down by about 21 points. s&p off by 3 1/2. and as we've been talking about daily, the looming fiscal cliff is a big piece of the market story. today barack obama is officially kicking off budget negotiations. at issue is a one-two punch. we have expiring bush era tax cuts and across the board spending cuts both set to hit in january. simpson and bowles with a warning to washington about what's at stake. >> if we get over on the cliff, we don't have a deal, and the market doesn't anticipate that we're actually going to be so stupid as to go over the cliff, then i think you'll see the market really crash and i think you'll see the rating agencies downgrade our credit again, you'll see fitch and moody's join s&p. i think you'll see corporations lose confidence. you'll see them slow down hiring, stop capital xebd churs, capital will go on on strike, it will be a hell of a mess. >> leaders of both parties think it would be to their advantage to go off the fiscal cliff. what a 12 straight that is, that we could win more as democrats if we let it go or we can win m
haven't made a payment that was ordered of you. >> ordered by who? by some guy? >> by a judge in the u.s. >> let's go to the hague. i'm appealing to the world court. >> they may appeal to the supreme court right here in the good old united states. >> let's see where that goes. i think argentina is a big country and if they want to, they can say, hey, nice to meet you. >> they can. >> right. >> if they want to get back into the capital markets to borrow money which is unclear if they want to at this point. >> what did you say on friday? >> they also have the money. they can make the payment. it's not as though they are distressed. >> you said they're not even borrowing. >> they're not. >> that's why i listen to your report. >> you did listen. i'm glad you did. >> it's amazing that 12 years after that default we're still talking about some of the ripple effects that's going back a ways. >> i thought it was an amazing story. >> we go back to the old citi saying countries don't go broke. >> remember shipley. tallest man in the world. good guy. a lot of good bankers. >> let's bring up old ban
and other groups allied with the republican campaign are doing the same thing. the u.s. chamber of commerce, though they didn't want us to have a camera in their phone banks, say they're also making millions of calls this weekend. everyone is trying to goose the turnout. the turnout by the two sides is what's going to tell us which of these poll models is correct. the likely voters are something that pollsters can only guess at. they're trying to turn likely voters into actual voters. >> all right, john. thanks so much. we'll keep watching that. very, very important component to this story. >>> 40 minutes before the closing bell sounds on wall street for friday. the market is under pressure today after being up 57 points on the better than expected jobs numbers. a complete reversal. we're looking at a triple-digit decline to end the week. >>> meantime, verizon is warning that now that superstorm sandy could significant hit its bottom line. what about at&t? has it been hit as well? comparing those two coming up next. >>> and how will sandy impact clorox? the ceo will join us exclusively late
europe and still a lot of opportunity in the u.s. growing tj max and marshall's and home goods in some smaller markets that they hadn't originally thought they could go into. definitely still think there's room there. >> jennifer, you cover saks as well. do the shorts have something to the story? do they know something that maybe we don't? >> saks did see a slowdown. part of it was related to superstorm sandy. a little over 20% of their business is done in the new york store. i would say 40% of sales are in the northeast. they have been impacted by that. also, you know, i think that maybe we're seeing a little bit of a pause maybe at that high end. maybe kind of more the aspirational customer at the high end. so i think that they're seeing a bit of a slowdown feeling a little bit more than maybe some of their peers that have moderately priced items. >> thank you for joining us. we appreciate it. >>> walmart facing union organized protests at some locations across the country this black friday. among the protesters, some employees walking off the job. hampton pearson is at capital plaza
of the u.s. economy. it's tuesday, november 6th, election day, 2012. "squawk box" begins right now. >>> good morning. welcome to "squawk box." i'm becky quick along with joe kernen and andrew ross sorkin and the polls are opening in various parts of the east coast as we speak. some 30 million americans have already voted, including the folks in the tiny village of dixville notch. this follows tradition, they voted just after midnight and with the lowest turnout in almost 50 years, this time around it was a tie. five votes for president obama, five for governor romney. back in 2008, president obama defeated john mccain 16-5. let's take a look at the map. 270 electoral votes are needed to win. nbc news now shows president obama with 237 likely. romney 206. and 95 in the toss-up column, so it is going to be a very long evening, andrew. >> i think we'll be staying up pretty late and then we'll be back at it tomorrow morning. but cnbc's team of reporters has the country covered this morning. stationed in battleground states, campaign headquarters and here at election central. among our
-week high. again the fiscal fears here in the u.s. are definitely supporting the gold price. we have seen gold perform relatively well this week. in fact, it's probably one of the best performing commodities here at the nymex and we are seeing new buyers coming in to the gold market as well. that's what traders are telling me looking at contracts beyond this year, into 2013. so that is also supportive. copper prices meanwhile are falling even though we got positive data out of china on industrial production. the fears again of the fiscal cliff certainly outweighing what we're seeing in china at the moment. there's been a lot of action the last hour or so in the energy market, particularly in rbon gasoline futures here. keep your eye on natural gas. it is going to get a little warmer here on the east coast causing a little slide in gas futures. >>> bertha coombs has a "market flash." >> standard energy stock hitting a new low today despite they did report record production yesterday. one of their big shareholders, tpg axon hedge fund is calling for big changes there on the board and the ou
of the big stories we were following today. zion is a stock on the radar today. the u.s. treasury will sell and conduct auctions to tell warrant positions in the name. also, hpq, that saga continues after a request from the former autonomy ceo to acquisition details of accounting fraud. some pockets of strength today. we were led higher by monster beverage. just one of those names people love to trade. regulatory fears subsiding a bit in that name. also want to draw your attention to corning. that stock getting a pop. last but not least, best buy. positive speculation in this name relating to a bid from the company's founder sending the stock up more than 3%. michelle. >> thank you so much, jackie. all right. just 34 days to go before we go over the fiscal cliff. >> oh, boy. >> i want to call it the fc. can't we get an abbreviation? we're going to l.a. we're going to ec. we're going over the fc. >> sounds good. >> are shareholders best served by companies paying dividends now? someone who's going to join us says absolutely not. find out why. >>> also, later, who would have thunk financial a
Search Results 0 to 22 of about 23 (some duplicates have been removed)